Short Interest in U.S. Gold Corp. (NASDAQ:USAU) Decreases By 53.5%

U.S. Gold Corp. (NASDAQ:USAU) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 60,700 shares, a decline of 53.5% from the June 30th total of 130,500 shares. Based on an average daily volume of 132,700 shares, the days-to-cover ratio is currently 0.5 days.

U.S. Gold Stock Performance

U.S. Gold stock traded up $0.29 during mid-day trading on Friday, reaching $5.84. The company’s stock had a trading volume of 38,049 shares, compared to its average volume of 87,192. The business has a 50 day moving average price of $5.76 and a 200-day moving average price of $4.54. U.S. Gold has a twelve month low of $2.92 and a twelve month high of $7.06.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of U.S. Gold in a report on Monday, June 3rd.

Hedge Funds Weigh In On U.S. Gold

A hedge fund recently bought a new stake in U.S. Gold stock. National Bank of Canada FI bought a new stake in shares of U.S. Gold Corp. (NASDAQ:USAU) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 21,266 shares of the technology company’s stock, valued at approximately $90,000. National Bank of Canada FI owned approximately 0.23% of U.S. Gold at the end of the most recent reporting period. 6.64% of the stock is owned by institutional investors and hedge funds.

About U.S. Gold

U.S. Gold Corp. engages in the exploration and development of gold and precious metals in the United States. It also explores for copper and silver deposits. The company holds 100% interests in the CK Gold project, which consists of various mining leases and other mineral rights covering approximately 1,120 acres in Laramie County, Wyoming; the Keystone project that consists of 601 unpatented lode mining claims covering approximately 20 square miles in Eureka County, Nevada; and the Challis Gold project, which consists of 77 unpatented lode mining claims covering approximately 1,710 acres in Lemhi County, Idaho.